Investments

In the first quarter of 2024, American households headed by a college graduate owned the disproportionately highest share of total family wealth. They owned 74.3% of total family wealth in the U.S. despite making up only 40.9% of households, an advantage of 82% greater wealth than we might expect based on their household representation. However, the real question is where is this wealth concentrated. From 2019 to 2022, the most recent years in which the Federal Reserve’s Survey of Consumer Finances collected household wealth data, the mean gap in net worth between Black and white households grew from $841,900 to $1.15 million — a 38 percent increase that far outpaced inflation during the same period. According to the U.S. Census Bureau’s survey, households with a White, non-Hispanic householder had 10 times more wealth than those with a Black householder in 2021.

The real question is why? Due to lack of ownership of and investment in minority owned businesses, wealth has been concentrated in bank account and possession of others. This should be a real wake up call for African American and all members of any minority population. Until and unless we start making a concentrated and concerted effort to consolidate our creativity, resources, and talents in the form of our own firms and around our own interests, the disparity in household wealth in America will continue to group and the conditions in our communities will continue to deteriorate.  We have to become our own solution. Kane Fidelity was created to help by leveraging the creative energy and intellectual powers of some of the best and brightest the world has to offer. Our vision is to create digital platform that connects like minded people around the social impact of Greek life and the collegiate experience. Whether you are thinking about going to college or graduated over 50 years ago, there is still something special about college and the time spent at our institutions of higher learning. Kane Fidelity wants you to be able to reconnect with yesteryear or get a better appreciation of why your parents, siblings, and friends speak with such elation about their Alma mater, the old Greek step shows, the tailgates, parties, and sporting events. Investing and supporting Kane Fidelity, is an investment to help bring the enjoyment back to life and wealth back to our communities.